Razia Khan: Inspiring industry’s future leaders

Razia Khan has come a long way since she and her family left Fiji and migrated to New Zealand, and later Australia, seeking better opportunities.

After joining CommBank in 2008 as a collections officer, Khan steadily climbed the leadership ranks to become head of strategy and operations in 2016, general manager direct lending in 2018, and general manager acquisition and retention – homebuying in 2021.

She then stepped into the role of acting general manager third party banking in June 2023 and was formally appointed to the position in October.

As a high-profile executive leader at Australia’s biggest bank, Khan is blazing a trail for other gender and culturally diverse people in the finance industry to aspire to senior leadership roles.

Promoting diversity, equity and inclusion at CommBank and across the wider mort­gage and finance industry, and empowering both CommBank staff and brokers to realise their full potential, are goals that Khan cares deeply about.

Khan is third-generation Fiji Indian. She was born in Fiji and has an older brother.

“My parents worked tirelessly to provide for our family, and they really instilled in us the value of hard work,” says Khan.

“They also impressed upon us the impor­tance of education and made it clear to my brother and me that this was the best way to create opportunities for ourselves as well as financial freedom.”

When Khan was just eight months old, her father received a scholarship from the Fijian government to study in New Zealand. “So we packed up our life in Fiji and headed abroad. Looking back, I can see my parents took an enormous risk moving with no money in their pocket – all for the chance of a better life.”

The family moved to Australia in 1996, and Khan says her parents’ sacrifices shaped the person she is today. “They taught me the value of taking smart risks, as well as the importance of hard work and dedication. Today, I consider myself to be very driven – driven to work hard and driven to make opportunities for myself and others.”

Khan has held a number of key roles in the 16 years she has worked at CommBank. As general manager of the third party banking team, she is now responsible for “supporting our amazing network of brokers and helping them and their customers to achieve their goals”.

In her previous position as leader of the acquisition, retention and customer experi­ence team for CommBank’s homebuying business, Khan says, “I worked closely with a variety of people from different backgrounds and with different skill sets, including tech, marketing and customer service.

“I’m passionate about challenging myself and stepping outside of my comfort zone so that I acquire new skills, and my time at CommBank has allowed me to do just that. I have been incredibly fortunate to lead a breadth of different teams.”

The bank has provided immense support for her learning, growth and development, Khan says. “I have had a wonderful array of business opportunities and the freedom to really curate and embrace my own leadership style and bring it to the table with every team I support.”

Khan is actively involved in supporting diversity, equity and inclusion initiatives within both the bank and the broader finan­cial services sector.

“Australia is a diverse country with a multi­cultural population,” she says. “DEI initia­tives ensure the industry can effectively cater to the needs of all customers, regardless of their backgrounds.

“Diversity helps to build trust and drive innovation and creative thinking.”

CommBank is committed to further advancing gender and cultural representa­tion across the business – including in lead­ership roles – and has clear goals in this space, Khan says.

These goals include gender equality in executive manager roles and above by 2025; senior leaders to match the cultural diversity of the Australian population by 2025; 3% Aboriginal and/or Torres Strait Islander representation in the CommBank domestic workforce to reflect parity with the Australian population; and continued growth of the bank’s Accessibility and Inclusion Strategy.

“I know the benefits that can come from having diverse thoughts, cultural back­grounds and abilities at the table, which is why I’m committed to creating teams that are a true reflection of the multicultural, diverse society in which we live,” says Khan.

“Equality, equity and respect are integral to how we live our values, meet the needs of our customers and deliver against our strategy.”

Khan says CommBank’s commitment to supporting diversity, equity and inclusion extends beyond the bank itself to the entire industry. As well as the diversity and inclu­sion work that is promoted and executed within the bank, CommBank is an active participant in many different external programs or industry bodies that promote DEI. This includes being a member of the Australian Network on Disability, and partic­ipating in the Access and Inclusion Index Evaluation and Benchmark assessment.

Within the mortgage broking industry, CommBank partners with aggregators and the MFAA to promote diversity, equity and inclusion.

“I sat on the Diversity and Inclusion Council at CommBank,” says Khan. “One of my proudest moments was leading the spon­sorship program for diverse talent within the bank. Through this program, we have been able to provide numerous employees – with a specific focus on women – with access to senior mentors, advocates and new business opportunities.”

Khan is clearly invested in mentoring, having reaped the benefits of advice and support she has had from others who have helped shape her career path.

“I believe it’s incredibly important for busi­ness professionals to have mentors and, where the opportunity presents itself, to mentor others.

“Throughout my career, I have been fortu­nate enough to have a number of mentors and sponsors – people who have helped me to expand my skill set and really advocated for me and my career development.”

Knowing how critical her mentors and sponsors have been to her career, Khan is committed to mentoring and sponsoring others. “This is the reason why we launched, and I am actively involved in, the CommBank Sponsorship Program for Diverse Talent,” she says.

“The Sponsorship Program sees business leaders from across the bank provide spon­sees with opportunities for career develop­ment and advocacy. As part of this, I’ve been fortunate enough to sponsor some wonderful up-and-coming talent in the bank, help them build their strategic, business and financial acumen, and provide them with exposure to senior leadership, knowledge, networks and experiences.”

To achieve greater diversity in the industry, leaders must be the drivers of change, Khan says, and they need to “own the agenda”.

“While we have made steps towards a more diverse industry, we need to continue to foster a more diverse and inclusive work­force,” she says. “As leaders, I believe it’s important to identify and nurture diverse talent so that we can create workforces that are truly reflective of the society in which we live.”